Home prices

First-time buyers comprised just 26% of November transactions, down from 32% a year ago and matching the lowest share since 2014, the National Association of Realtors report showed.

“Rent of shelter” — a category that makes up a third of the CPI basket of goods and services prices — is up 3.9% from November 2020. That’s the most in 14 years but still pales in comparison to many private-sector metrics.

Sales are on track to exceed 6 million this year, which would be the strongest since 2006.

Only eight states experienced annual appreciation viewed as sustainable, according to Fitch Ratings.

U.S. home prices jumped 19.8% in August, the latest in a string of massive gains in the pandemic real estate market.

Listing times, price appreciation and inventory of for-sale homes all made incremental gains in favor of buyers, according to Zillow

The lack of inventory pushed the median housing price to double-digit annual growth for the 14th straight month, according to Redfin.

The state, which has grappled for years with a shortage of affordable housing, will see prices rise 5.2% to a median of $834,000 in 2022, according to a forecast by the California Association of Realtors.

The share of borrowers who thought it was a good time to buy hit an all-time low, according to Fannie Mae.

Appreciation more than tripled the year-ago rate, according to CoreLogic.

The home price increases and the ongoing inventory shortage made buying conditions difficult and many think it’s only getting more challenging, according to RealtyTrac.

The U.S. housing market has been on fire, with the pandemic fueling intense demand for suburban homes. A shortage of affordable properties has pushed up prices and kept some potential buyers on the sidelines.

Price appreciation over the past year also dropped the share of underwater mortgage borrowers to an all-time low, according to CoreLogic.

Last month’s housing market reversed a trend in purchases, but it wasn’t enough to stop the double-digit price growth, according to Redfin.

Southwestern housing markets had the largest annual changes in median monthly home loan payments, with one increasing more than 30%, according to Redfin.

A rising — but still small — share of borrowers believe interest rates and housing price appreciation will fall in the next year, according to Fannie Mae.

The jump is the largest 12-month gain in the index since the series began 45 years ago.

Meanwhile, property values across the U.S. have increased for 40 quarters in a row, according to the Federal Housing Finance Agency.

The S&P CoreLogic Case-Shiller index of property values nationwide surged 18.6% in June from a year earlier, according to a statement on Tuesday.

However, with mortgage rates down and household income increasing, consumers have 129% more buying power today than they did 16 years ago, according to First American.